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Hampshire Trust Bank is raising its maximum LTV on new borrowing to 75%.

All of the Bank’s buy-to-let, HMO and semi commercial deals are eligible up to 65%.

At 70% LTV, borrowing is available on a maximum loan size of £3m and on increased ICR hurdles of 10%, e.g. 125% for a limited company borrower is raised to 135%.

At the new maximum LTV of 75% LTV, the maximum loan size is currently £550,000 (or £750k inside M25) on an increased ICR of 15%.

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At 75% LTV, the borrower must have a buy-to-let track record and have taken no payment holidays across their portfolio. The property must have been used as a rental property recently and new builds and studio flats are excluded.

Charles McDowell, managing director at Hampshire Trust Bank, said: “It is more important than ever that we continually review our lending criteria as more information comes to light. With immediate effect we are increasing our maximum LTV to 75% for the right type of deals – the right properties, the right yields and the right borrowers.”

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Source: Financial Reporter

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